// PricewaterhouseCooper (PwC) have officially been appointed as administrators for The Book People
// Nearly 400 staff’s jobs are now at risk although no immediate redundancies will be made
// The online books retailer has struggled to contend with Amazon’s dominance
The Book People has fallen into administration, putting nearly 400 jobs at risk just a week before Christmas.
One of the UK’s largest online book retailers has today announced the appointment of PricewaterhouseCoopers (PwC) as administrators, according to Sky News.
PwC assured staff that there would be no immediate redundancies and that The Book People would continue to trade as usual while it explored a rapid sale of the business.
It is understood that the business, which makes 70 per cent of its sales online and sells directly to schools and businesses, has struggled to contend with the dominance of Amazon in the online book market.
This is the second time this decade the retailer has collapsed, having been saved in a rescue deal by Endless in 2014.
Endless said the rise of global online booksellers had “severely impacted operating cashflows” despite it managing to secure more than 300 jobs and appointing new management since it took over.
Joint administrator and PwC partner Toby Underwood said: “The intention is to fulfill and deliver all customer orders received and accepted.
“I appreciate the obvious concerns that staff in particular will have as we move towards Christmas.
“While the administrators have funding to meet the payroll for December, the longer-term prospects for the business, staff, customers and suppliers will clearly be dependent upon whether a sale can be secured.”